“If you can talk to culture, you can change the world.” Musk said in an interview with the New York Times in July 2021. In this interview, Musk talked about how he uses social media to speak to global culture, specifically how he uses Twitter to promote some cultural phenomena, including the popularity of cryptocurrency. So far, Musk’s status as a bellwether in the encryption market is self-evident, driving the spread of technological culture, political culture and popular meme culture on the Internet. This article will review and explore representative Musk concept coins.
1. The King of Meme, the mutual achievements of DOGE and Musk
DOGE originated in 2013, based on the Shiba Inu Kabosu, and is the first cryptocurrency based on Internet Meme. Currently, it has become the oldest, highest market value, and most crypto-representative Meme king. On the road to development, Musk can be said to have contributed to each other’s success.
On April Fool’s Day, April 1, 2019, Musk was elected CEO by Dogecoin fans. Then he changed his Twitter profile to “Former Dogecoin CEO”, and the gears of fate began to turn. Since then, Musk has mentioned, commented and supported Dogecoin on Twitter many times, calling it “the people’s cryptocurrency” and “the most interesting cryptocurrency”.
Starting in 2022, Musk, the founder of payment giant PayPal, began to gradually hint at Dogecoin’s payment plan. On the variety show “Saturday Night Live”, Musk once said that “DOGE is the future of currency, an unstoppable financial tool that will take over the world.
Later, Tesla announced that it would accept Dogecoin as a payment method for some products. It also stated that its subsidiary SpaceX also plans to accept Dogecoin payment.
After Musk acquired Twitter, he also mentioned many times that the platform would support cryptocurrency payments. He hinted that Dogecoin could become part of the X platform’s payment system. Since then, DOGE, driven by Musk, has gradually introduced payment expectations.
After Trump takes office in 2024, there will be a wave of political and regulatory benefits for cryptocurrency. DOGE has huge positive expectations with the support of the “Godfather of Dogecoin”. Nate Geraci, President of The ETF Store, said on X in November The article stated: “The arrival of spot DOGE ETF applications seems inevitable… 2025 will be a crazy year.”
DOGE has now grown into the most important Meme of cryptocurrency and the benchmark for the entire industry. In the process, every interaction from Musk will broaden the public’s attention to Dogecoin and the crypto market. On the other hand, the growing global crypto market The investment crowd has strengthened his opinion leader status and influence in the entire industry. The two achieve mutual success and lead the cultural communication and financial direction of the encryption industry.
2. A squirrel that saved America—PNUT
More than seven years ago, mechanical engineer Mark Longo brought home a little squirrel that had lost its mother and gave it a heartwarming name “Peanut.” While growing up, Mark Longo used his social media to share countless interesting interactive videos with Peanut, quickly attracting the attention of hundreds of thousands of fans, and Peanut became an animal internet celebrity. But on the occasion of the decisive battle in the 2024 US presidential election, on October 30, New York State Department of Environmental Conservation (DEC) officers broke into Mark Longo’s home without a search warrant and arrested Peanut. He was soon charged with illegally raising wild animals. Euthanasia. This news instantly caused an uproar on the entire Internet. Countless netizens expressed strong dissatisfaction and anger, and DEC was also caught in the whirlpool of public opinion.
On October 31, the first tweet was posted on Twitter @pnutsolana, PNUT tokens were launched on the chain, and a petition was called for everyone to stand together and speak out for peanut. At this time, PNUT became the Meme symbol of the event and began to ferment across the entire network. As the incident spread, Musk and Trump, as the Republican campaign team, quickly built momentum for PNUT and increased their political influence with the help of Meme. On November 3rd, Musk tweeted “X is for Peanut”, and the dog’s official Twitter also posted “RIP Peanut” with a picture of a dog and pnut, and then Musk directly replied: “Peanut”, Trump Popularize more Internet celebrities to continue to follow up and interact with each other.
After Trump won the election, PNUT, as a Meme, has become a cultural symbol of freedom, democracy and equal rights in the United States, winning a victory for Meme culture. Musk tweeted after the election that “America was saved by a squirrel and Meme coins.
3. Politics “Manhattan Project” and Meme Pun – DOGE
On November 12, 2024, Donald Trump announced the establishment of the “Department of Government Efficiency” (DOGE) and appointed Elon Musk and Vivek Ramaswamy. Vivek Ramaswamy co-heads the department. Trump has high expectations for it. He said: It may become the “Manhattan Project” of our times, paving the way for his government to dismantle government bureaucracy, cut redundant regulations, reduce wasteful spending, and reorganize Federal Agencies – This is critical to the Save America movement.
The idea of DOGE was first mentioned by Musk in a tweet in August last year. While the project initially seemed like a joke, Trump has expressed support for DOGE’s initiative to cut government spending, suggesting that the once fictional department will actually become a real-life U.S. government affiliate. And after Trump was re-elected as President of the United States, the joke of the past became a reality.
The name that is highly similar to DOGE is not a coincidence, but a deliberate design. In a Twitter interaction in August this year, Musk called the name perfect. Musk also announced the logo of the Ministry of Government Efficiency with the image of a puppy, forming a double closed loop with Dogecoin DOGE, strengthening DOGE’s benchmark attributes.
Since the establishment of DOGE, many Meme coins have been issued in various chains based on this concept, but most of them have been rapidly ragged in the short term. In the end, DOGE on the ETH chain ran out and took a dominant position. In the future, the progress and benefits of the DOGE department may have a major impact on the DOGE sector. The price performance of the token.
4. Meme that integrates technology and culture—BANANAS31
Musk’s SpaceX is becoming one of mankind’s greatest companies, with unlimited imagination in terms of corporate valuation and technological progress. From the Internet connection on Earth to the Mars colonization plan, SpaceX’s technological achievements not only bring economic benefits, but also open the next door to the universe for mankind.
The Meme about SpaceX has become a hot spot for capture and speculation in the encryption industry, but most of the targets of this concept have a short life cycle. Until the recent emergence of BANANAS31, it may have the potential to become the first evergreen Meme that integrates technology and cultural concepts. At 6 a.m. on November 20, 2024, SpaceX successfully conducted the sixth comprehensive test flight of Starship S31 at its launch base in Boca Chica, Texas. S31 is the last flight test of the first-generation Starship series, marking SpaceX’s full shift to the development of the second-generation Starship (Starship V2). This makes S31 a key node in the entire history of starship development. The final successful flight restored SpaceX’s doubts after several previous failed missions, demonstrated the gradual maturity of the starship system, and also laid confidence in its subsequent manned missions. S31 is the “curtain mission” of Musk and SpaceX’s first-generation starship and the beginning of the next space exploration plan.
Interestingly, there is a layer of banana stickers on the shell of the S31 starship this time. It is SpaceX’s tribute to popular culture. The Internet Meme “Banana for Scale” means that bananas are used as the standard unit of measurement for size. Shows the size of the starship. In this way, the SpaceX team also sends a relaxed signal to the world: Although the space mission is full of challenges, the team is confident in the success of S31. Musk also likes bananas and the behavior of measuring starships, and commented on related tweets.
The technological milestone of S31 Starship and humorous Internet memes have given many Meme coins a hype perspective. In mid-November, there were a lot of comments about Banana and Starship tokens being launched on various chains, but the tokens that finally ran out this time were not from SOL and ETH, the traditional Meme hotspot chains, come from the BSC chain, which has been silent for many years. The targets of the ETH chain do not have good price performance. The SOL chain’s BANANA has a week-long hype moment, with the highest market value reaching about 65 million, but it is currently close to Rug. Surprisingly, the BSC chain’s BANANAS31 life cycle has so far Nearly a month ago, the highest market value reached 80 million, and the current market value is stable at around 50 million. In the past, the life cycle of SpaceX concept targets generally lasted a few days. BANANAS31 also has a strong community and is continuing to work at present, using its own understanding to spread technology and cultural memes. It recently held the “Banana for Scale” Tiktok challenge and even conducted web2 break-through communication. Perhaps this target may have the potential to become the first evergreen meme that integrates technology and cultural concepts in the concept of Musk and SpaceX.
5. Data comparison of Musk’s concept coins
From the horizontal comparison of market value data, BANANAS31 has the smallest market value, PNUT has a market value of 22 times, and DOGE is 3.5 times. In terms of the ratio of trading volume to market value, BANANAS31 has recently been second only to PNUT and is 2.5 times that of DOGE; social media data and The data of PNUT and DOGE are not much different (given that Twitter data will have a certain degree of moisture, the range of 50k-1m is considered to be convergent); the number of holding addresses is better than that of DOGE.
To sum up, compared to PNUT, which is already listed on the exchange, BANANAS31’s social influence is not much different. The trading volume/market value is 1/2 of it, but it is higher than the average. Recently it is 3 times that of DOGE. It is not listed on a large exchange. The performance is relatively good; compared with DOGE, which is not listed on a large exchange, the trading volume and number of currency holdings are larger, but the market value is only 1/3 of it, and there is room for growth. Compared with its 50M level Meme It is difficult to find top-level narratives in coins. The currency price is stable and the odds are relatively high in comparison. At the same time, the community continues to interpret Meme culture and continues to build targets.
6. Summary
One of the consensuses of this cycle is that Meme currency is a symbolic culture and a powerful weapon for large-scale crypto industry disruption. Its investment opportunities should be valued and explored. Meme’s investment cores are threefold: excellent narrative; strong community; good chip structure and “hitting point” buying within the market value range. The recent BANANAS31 on the BSC chain fully meets the three investment cores and may become one of the most promising targets under Musk’s concept and deserves attention.
This article is from a submission and does not represent the views of BlockBeats
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